Please enable JavaScript.
Coggle requires JavaScript to display documents.
GLOA101, Lecture 4, Lectures, 4 (Crash Course:
Economic Schools of…
GLOA101
Cheap Things
Week 3 65-69, 81-85
Cheap Money
A cycle of war, money.
Need money to pay soldiers and previous wars.
Bankers want gov to repay them. Gov wants banks to fund
"Modern world market"
"Modern imperialism"
"Cheap money that facilitates capitalism ecology"
Cheap Money -> Low Interest, cheap credit
Leads to new frontiers
After each boom in world capitalism
-> financialization: gambling on the future industrial revolution
-
-
-
Lecture 4
-
Cheap NatureRefers to: Externalizin environmental costs to reduce cost of natural resources. Real Abstractions:Three Key Shifts: (that lead to this)Cartesian Philosophy
Treat nature as something that can be exploited without consequence
Ethical concerns....... Leads to injustices, ignores wellbeieng of ecosysstems..... leads to destroying ecocsystems + communities... can impact us ProletarianizationHumans depend on cash
Wage dependence, loss of independence
Economic vulnerability
They control everything
You get paid the same regardless of price of pot
Expands working classNew Forms of control Over land
- Farmer and laborers lost land that theye depended on when their land was seized privately. --> Forced into wage labor formed workig class
Land Grab: private acquisition of land from local/indigeniosu for mining/agriculture
Commodification of Land: Land is a commodity to be bought and sold leads to environemental problems (not treated)
Leads to less biodiversity + deforestationKey Takeaway
- Invention of nature and society categories as apart of colonial process
- Real Abstraction: Make the world around them as they try to categorize
- Moral imperative to dominate what they consider nature.
Cheap Money
Minimizing costs to fuel economic activities
2 dimeensions :
1) Appropriation of Bases (silver gold oil)
2) Regulation to keep interest rateFinacialization Lower interest rates and increase availablilitycredit.
Cheap money encourages high-risk investments by making borrowing costs low. Economic booms sure, but financial crisis when it burstsImpact on the Economy
Why Financialization 1) Leading powerss go to war or build up waar-making capacity:
2) Capitaal to flow towards frontiers
Illusion of Cheap Money
-
-
-
Lectures
-
Lecture 3
Key Words
Cheap
Things
Cheapness: as set of strategies to manage relations between capitalism and the web of life by temporarily fixing capitalism's crises
Capitalism's ecology:
Root problems not solved for capitalism crises. Hids "REAL" costs elsewhere (environment, future). Cheapness is the strategy to manage the crisesYour phone has a lot of steps apart of capitalism's ecology Patel and Moore: RELATIONAL
- elements (people, institution, technolgies, ecosystems) are connected.
- ^Changes in one thing can affect others
- Produce systems, ecological, environmental, political
- How does a supply change affect culture/environment?
** Cut costs in board room-> Change livelihoods of workers in factories/other countries (one decision can impact)
- Basically one node can change a lot
...
- Update way of thinking
- We live in capitalism
- Patel and Moore say wwe should change how we thing --> Recognize crises are intertwined with captalism's cheapness
** What do we need: Don't devalue people and resources.
** What is being hidden? :
Capitalism focuses on "quick" we need to think about "long-term"
Look beyond...
Focus on wellbeing/health over wealth
FrontierWorks through connection(dont exist isolation)
Arise with new opportunity(new resources, profit)
Matters for empires to sustain growth (must always be growing).
Dumps costs on the less nations
-
-
-
-